Posts Tagged 'Politics'

David Cameron on Radio 4

Evan Davis was trying to land a blow on DC but DC held firm.
It started with an attempt to make DC admit that we would have to raise taxes and/or cut spending. DC quite rightly concentrated on the big picture.
There followed an attempt to undermine the right’s raison d’etre whereby capitalism has been undermined and socialism is the best way, you know the drill. But DC kept to the script being somewhat smart after the fact, claiming parliamentary unity at this time of crisis whilst landing the odd party political blow.
Again ED tried to corral DC on tax but he evaded and stayed calm. Since taxes will probably have to be raised before he gets to power, it was the approach that I would recommend. Who needs newspaper headlines of ‘Tories to raise taxes’ when Gordon will have to do it for you (by stealth or otherwise)?
Moving on to spending, DC was well versed on where he could cut spending on advertising, consultancy fees, I’d cards etc. ED again tried to admit that this was impossible to to guarantee from the outside.
DC was overall very competent, rightly pointing out that the Great Depression was caused by the actions after the banking crisis and that is something that globally we must concentrate one. One can’t help but feel that John Humphreys would have been a much better opponent, in his smug comfortable leftie kind of way,  but you can only beat the opponent opposite you.
In summary DC had a good appraisal of his brief, kept his cool, and stayed focused. However there will be far harder tests to come.

This has all blown the Conservatives’ economic planning out of the water. I have to agree with their policy of keeping their head down whilst emitting the odd sniping remark. On can’t publish a revamped policy today which will be turn apart by tomorrow’s crisis. it is the advantage of the opposition to have thinking time, the advantage of the government to show they have experience and can cope, the been there done it attitude.

One hopes that the calls for tax cuts can now be put to bed, and that a sustainable tax and spend model for the medium term can be forged out of this crisis. This is an opportunity for the Tories to shape economic policy for years to come regardless of who is in power. It is however an extremely onerous task


Yes Darling

So Mr Darling has promised to do something to the economy!

Well considering that the credit crunch began some twelve months ago, one can only marvel at his inability to have a structured response by now.

There is only so much that can be borrowed in the current climate therefore taxes have to be raised yet, Darling ever the politician, just didn’t have the guts to say the obvious. This unnecessary economy with the truth is incredibly frustrating. I was happy to praise Mr Darling when he acknowledged the severity of the financial earthquakes some weeks ago, but clearly he’s been told to keep his mouth shut by Team Brown.

What we actually need is a structured attack before the contagion gripping the city hits town & country!

On a separate point, I note the call for a windfall tax is rising in the labour ranks. Now I have a big problem with windfall taxes. There is a system already in place to capture a share of excess profit. It’s called ‘taxation’.  Also, I note that it’s ‘to pay for rishing fuel bills’. Where does this taxing A, to bay for B principle stop? Will all taxation need to be earmarked for a particular related expenditure? In which case, who will we tax to pay for defence or our MPs and civil servants? Now that’s interesting…

April 2018
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